HCN Index surges Monday
On a day of the Dow’s biggest bounce back ever -- up 936 points -- the HCN Stock Index surged 6.36 percent.
Friday’s historic surge brought the HCN index, a basket of 20 home channel companies weighted by market cap, to 775.53. The increase made up for the dramatic losses of Wednesday, Thursday and Friday, but the index was still down from the 820.85 level at the beginning of last week.
Home Depot and Lowe’s led the charge, up 9.92 percent and 11.73 percent, respectively. Of the 20 companies on the HCN index, only three declined during Monday’s bullish run: Sears Holdings, down 4.3 percent; BlueLinx, down 1.67 percent; and Huttig, down 5.74 percent.